On December 3, Caixin News (Editor Xia Junxiong) reported that the Indonesian government stated that Apple has increased the promised investment amount to $1 billion to seek the lifting of the ban on the iPhone 16 series smartphones.

In October this year, the Indonesian government announced a ban on the sale of the iPhone 16 series phones within Indonesia, citing Apple's failure to meet the requirements for using locally manufactured components.

Indonesia's regulations stipulate that smartphones sold within the country must include at least 40% of locally manufactured components. Foreign companies in Indonesia usually collaborate with local suppliers or purchase components within the country to meet this requirement.

According to the Indonesian Ministry of Industry, Apple promised to invest 1.7 trillion Indonesian rupiah (approximately $0.109 billion) in Indonesia last year, but the actual amount realized was only 1.48 trillion Indonesian rupiah. After the ban was imposed, Apple proposed to increase its investment in Indonesia by $0.1 billion in exchange for the Indonesian government resuming the sale of new phones, but this was rejected.

Indonesian Investment Minister Rosan Roeslani stated on Tuesday that the government and Apple have reached an agreement, with Apple investing $1 billion as the "first phase" of investment. He added that they expect to receive a written commitment letter from Apple within a week.

"We want to see fairness," Roeslani said. "If you benefit from here, you should invest here and create job opportunities."

Indonesian Minister of Industry Agus Gumiwang Kartasasmita stated last month that his top priority is to have Apple establish a factory locally, following the example of other smartphone manufacturers like Samsung Electronics and Xiaomi.

Roeslani said that if Apple produces equipment locally, it will generate investment chain effects in related industries and create more job opportunities. "Most importantly, the global value chain will shift to our country," he stated.

Indonesia has always taken a tough stance on foreign companies, having previously announced a ban on the sale of Google Pixel phones for the same reason of not meeting the requirement to use locally produced components.

As the largest economy in Southeast Asia, Indonesia is also the country with the largest population in the region, with approximately 0.28 billion people, making it a market full of potential. Government data shows that Indonesia has over 0.35 billion active mobile phones.